Answers to CC advance questions as I understood them. I did not record anything, just scribbled cryptic notes, so advance apologies for whatever I missed or misunderstood. Some of the wording is my own, having forgotten the exact original statements.
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1. Why the 2005 massive dilution?
- We are funding a new venture and it is necessary to issue shares. Still, we have the support of the Chinese Government, and believe that all shares issued represent good value.
2. What happened with the Philipines demo?
- We are concentrating on the China deal first. We will be getting back to the Philipines shortly, but only after the China deal is well along.
3. What is the revenue from Globe Staff and from other sources?
- The numbers will be published in the updated financials to be filed shortly.
4. Where will production be based?
- Production will be based in China.
5. What is happening with the James Barry and other former employees lawsuit?
- I cannot comment, other than we are continuing to build the case and will pursue it aggressively.
6. What is the number of outstanding shares.
- You may call the Transfer Agent for this, but currently there are about 2.3 billion shares issued, about 1.3 billion in the float, and 5 billion authorized.
7. Will you be obtaining traditional financing?
- Yes, but until we obtain such financing and sufficient revenue, we will be issuing shares.
8. Are there sufficient shares authorized until sustaining revenue comes on line?
- Yes.
9. Do you anticipate a reverse split?
- No.
10. When was the last reverse split?
- February, 2003.
11. When will MMs sign up to bring SSTY back to the pinks?
- We have the MMs, but we need SEC review and approval prior to NASD re-authorization. We are working hard to ensure all is right before making the request. This takes time, and we have positive momentum, but all must be exactly correct before going back.
12. Is there a possibility of a Chinese takover of True Product leaving US investors with nothing?
- No. Sure Trace owns 85% of the sub, which owns 50% of True Product. US investors are protected.
13. Where can we find the full business plan?
- Parts of the business plan are on the SSTY web site. We cannot publish the entire plan because this is a security company. As time goes on, we will publish more of the plan that we determine we can release.
14. Does the $30k scanner price affect company viability?
- No. Scanners once cost $30k, and that will come down with technology and production. Scanner price is not a major factor in the business plan.
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The were some live questions that I didn't document. One person pointedly asked whether SSTY would be back on the pinks prior to the New Year. Cimino again said he couldn't say, that the reapplication work was going well but had to be essentially perfect. He also restated that the Chinese Government "has embraced" the SSTY technology. FWIW.
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